Reports of U.S. spy tactics could taint EU trade deal

The recent revelations that the U.S. government has spied on its allies in the past has leaked into the Transatlantic Trade and Investment Partnership discussion, talks that had already been strained by the U.S. government shutdown.
In a speech at Yale University, Viviane Reding, vice president of the European Commission, highlighted the partnership between the European Union and the United States, saying the two nations have had productive and substantive discussions toward a trade agreement. She also said, however, these talks can’t move forward if either party is spying on the other one.
“Partnerships must be based on respect and trust. This is the contrary of spying and control,” Reding said in the speech. “And for ambitious and complex negotiations to succeed there needs to be trust among the negotiating partners. We want these ambitious negotiations to succeed. I count on our US friends to respect this: for the sake of our negotiations, and for the safe of our partnership and mutual trust.”
Reding said the EU would see about $160 billion in trade benefits for the EU and a gain of $130 billion for the U.S. Also, a deal would create an increase of possibly $130 billion in global GDP. But Reding said the benefits also go beyond monetary gains.
“In the short run, it is a strong signal that the EU and the U.S. are committed to deepening and opening trade,” she said. “This is a sign of confidence which businesses need in times of uncertainty and a sign of joint leadership on the global scale.”
Reding finished her speech with a quote from Victor Hugo about the U.S. and Europe “stretching out their hands across the sea,” a development that “will not take another 400 years, for we are living in a fast-moving age.” Cementing the agreement would send a clear, strong message to world markets, she said, cautioning that the two nations shouldn’t let this opportunity go to waste.
“I am very much convinced that it will not take 400 years, not 400 weeks but less than 400 days for our negotiators to stretch out our hands and congratulate each other for a successful conclusion of our Transatlantic Trade and Investment Partnership,” she said. “This has, however, to be correctly handled and built on trust the same trust that was shaken following the latest revelations.”